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Headlines Tagged with Bonds 1,535 headlines found

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Behind New Jersey’s Tobacco Bond Bailout, A Hedge Fund’s $100 Million Payday

When New Jersey decided to bail out some of its tobacco bonds, the state gave up $400 million in future revenues to pocket $92 million immediately, an arrangement that also helped one savvy investor cash in on a big bet.
ProPublica
added Dec 30, 2014 23:00
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New Jersey set to hand over millions in tobacco cash

failure to spend on smoking cessation efforts when thousands of people still die annually from tobacco-related illnesses has drawn derision from advocates and public health officials....this year will begin repaying hundreds of millions of dollars to bond
AP - Associated Press
added Jan 23, 2017 19:21
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Tobacco Sees Best Gain Since April After 17% Drop: Muni Credit

The $84 billion market for junk-rated tobacco bonds, one of the weakest areas of municipal debt this year, is rallying to a one-month high after a ruling against cigarette makers in a payment dispute with states.
Bloomberg News
added Sep 28, 2013 21:00
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[New Jersey] NJ Democrats Decry Christie Tobacco-Bond Deal as Revenue Stunt

say Republican Governor Chris Christie has turned to financial gimmickry in a deal that pledged national tobacco-settlement revenue to investors in exchange for almost $92 million. The one-time infusion, for the current fiscal year, shows the consequence
Business Week/Bloomberg
added Mar 9, 2014 22:52
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California draws on reserves for tobacco debt payments

California officials have tapped reserves for payments on two series of state tobacco bonds due to insufficient tobacco settlement revenue, according to notices filed with Municipal Securities Rulemaking Board on Monday.
Reuters
added Dec 4, 2012 01:53
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Oppenheimer Sues Rhode Island Over $594 Million Bond Deal

Rhode Island’s plan to sell $594 million in debt backed by tobacco-company payments was challenged by OppenheimerFunds Inc., which claims the deal violates earlier bondholder rights to revenue related to a 16-year-old accord over health-care related cost
Bloomberg News
added Aug 6, 2014 07:15
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[Louisiana] Tobacco bond refinancing done, generates $83M

Gov. Bobby Jindal's administration has refinanced Louisiana's tobacco settlement bonds, though the state received significantly less money than expected through the deal. Jindal's top financial adviser, Commissioner of Administration Kristy Nichols, anno
AP - Associated Press
added Jul 7, 2013 21:16
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[Rhode Island] Oppenheimer funds fighting tobacco bond refinancing

In a lawsuit filed in R.I. Superior Court, two mutual funds controlled by Oppenheimer Funds are trying to block the tobacco bond refinancing, which they claim defrauds their investors.
Providence Business News
added Dec 8, 2014 15:46
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[Louisiana] Jindal sells Tobacco bonds, nets less money than expected

Jindal's top financial adviser, Commissioner of Administration Kristy Nichols, announced Tuesday that the deal was done. Instead of the more than $140 million in upfront cash expected by the refinancing, the state got $83 million.
KNOE 8 News (Monroe, LA)
added Jul 3, 2013 12:16
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Philip Morris Borrowing Costs Climb After Russia Bans Public Smoking | Fox Business

Bond investors demanded a higher yield from Philip Morris International Inc. (PM) Tuesday than the cigarette maker was granted last summer, as rising interest rates and questions about overseas tobacco sales weighed on its debt sale.
Dow Jones Newswires
added Feb 27, 2013 00:37
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